GM may have to go bankrupt

Obama says that GM may have to go bankrupt!!! Then it will totally effected to all the auto motif industry. Oh Delphi..

Source: kansascity

President Barack Obama prepared the nation Monday for the possibility that General Motors will go bankrupt, rejecting the revival plans put forth by GM and Chrysler and ousting GM Chief Executive Rick Wagoner.

“We cannot and must not and we will not let our auto industry simply vanish,” Obama said. At the same time, he cautioned that he won’t support “an unending flow” of tax dollars to bail out the firms. “These companies and this industry must ultimately stand on their own, not as wards of the state.”

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